Kerjaya Prospek Consortium wins RM568.19 million TNB contract for Paka GIS project

Kerjaya Prospek Group Bhd announced that a consortium it leads has been awarded a RM568.19 million contract by Tenaga Nasional Bhd for the design, construction and commissioning of the Paka GIS in Terengganu. The unincorporated joint venture, named JTHSB-KPMSB-BSB Joint Venture, includes Kerjaya Prospek (M) Sdn Bhd, Jati Tinggi Holding Sdn Bhd (a subsidiary of Jati Tinggi Group Bhd) and Betapac Sdn Bhd. The award letter was received yesterday and formally accepted today, with the contract stipulating completion within 24 months.

Under the joint venture agreement, the parties will share rights and obligations in the proportions of 55%, 25% and 20% respectively, giving Kerjaya Prospek a 25% stake. The company expects the contract to generate additional revenue over the next two years and strengthen its existing order book, positively impacting earnings and net asset value per share through the 2026-2028 financial years.